A new report has shown that one-in-three Australians exclusively favour cards over cash to do their shopping.
According to a poll of 1000 Australians, the YouGov Galaxy poll said millions have ditched traditional cash payments in favour of card.
Four-in-five Australians said that paying by card was much more convenient than paying with cash.
Around five million people haven’t been near an ATM in the past four weeks or at least couldn’t remember the last time they withdrew cash.
According to results, this consumer behaviour is affecting organisations, with more than half of small and medium businesses believing their companies will become cashless in the future.
Nathan Dalah and his team at Sydney’s Fishbowl Sashimi Bar made the move to cashless as the team found cash to be “quite interruptive” and time-consuming for his staff.
“Being cashless means we no longer have to rely on our staff members across multiple locations to physically count cash, reconcile it and take it to the bank,” he said in a statement.
“Card payments eliminate accounting errors and wasted time, plus the experience is better because the queues move faster and the service is cleaner.”
The poll was commissioned by payment provider Square.